This Customer Agreement sets forth the terms and conditions for the use of the Lumen services (hereinafter referred to as the “Services”) provided by Lumen Consulting Inc. (hereinafter referred to as the “Lumen”, “we,”“us,” and “our”).
- The Acceptable Use Policy, which delineates the permitted uses and prohibited uses of our Services.
Please read and understand these policies and the other agreements that apply to you as a Lumen Customer. Your use of the Services may be subject to additional terms and conditions, as communicated to you via email, SMS, and other methods.
1. Information About Lumen
Lumen Consulting Inc is registered in Canada with the Financial Transactions Reports Analysis Centre of Canada (“FINTRAC”), registration number M18176454. Lumen is registered as a money service business and is able to provide foreign exchange dealings and money transfer services to residents of Canada under this registration. Lumen does not provide other services and is not a payment processor, bank, or other financial institution. Further, Lumen does not accept cash or cryptocurrency under any circumstance.
You must be at least 18 years old, or the age of majority in your jurisdiction of residence to use the Lumen service. Further, note that third party transactions are strictly forbidden using the Lumen service. Any Customer registering for or using the Lumen service affirms that it is for their personal use and that all transactions are performed on their own behalf. You must only use the Services to transact on your own account and not on behalf of any other person or entity. Further, Customers may not share an account or login details under any circumstance. If Lumen suspects an account is being operated by more than one individual or on the behalf of an undisclosed third party the Customer account may be closed without notice.
Additionally, customers may not use their account for any of the following purposes:
- Financing individuals, organizations, or other entities concerned with/engaged in the development of weapons and weapons delivery systems
- Sending funds, directly or indirectly, to any 3rd party not disclosed to Lumen
- Transacting with any party that is excluded, sanctioned, or subject to asset freezes
- Facilitating transactions related to the export sale, supply, shipment of goods that are blocked by sanctions such as technical data, telephone and telecommunications equipment
- Facilitating any transaction relative to heavy water, uranium enrichment, or nuclear development
3. Lumen Services
- Account Opening
To access the Services, Customers are required to open an Account by providing certain information. All information provided during account registration or any time thereafter must be complete, and truthful. Customers are responsible for maintaining current Account information including mailing address, email address, telephone number, and other contact information. Lumen may, at their discretion, refuse to provide or may discontinue providing the Services to any Customer at any time for any reason. Any and all activities carried out on a Lumen account are the responsibility of the account holder.
- Account Security and Privacy
You are solely responsible for ensuring the security and confidentiality of any and all IDs, passwords, or any other details that you use to access your Lumen Account and the Services. You must never disclose or share your account credentials with anyone under any circumstance. Lumen will never contact you or ask you to provide your password to us or to a third party. Please report any suspicious requests for your account credentials and ensure no one witnesses your login or operate your Lumen account.
If you suspect your Lumen Account, login credentials, or other aspect of your account has been compromised change your password immediately. Further, report any unauthorized, or suspected unauthorized, access to Customer Support at your earliest opportunity. The compromise of your credentials could lead to fraudulent transactions and account usage which are your sole responsibility as an Account Holder.
You must make sure that your e-mail account(s), phone, and other contact methods are secure and only accessed by you. Let Customer Support know immediately if your email address becomes compromised.
Duplicate and Dormant Accounts
Lumen does not allow the creation of duplicate accounts for the same user due to security and identity validation requirements. Lumen will close any account deemed a duplicate at its discretion and without notice to the user.
Lumen tracks customer activity on a regular basis and will suspend any account that has not had a login or transaction in 180 days at its discretion and without notice to the user.
- Identity Verification
Opening an account and using the Lumen services constitutes a financial service provided by a registered money services business, Canadian law requires that Lumen verify your information. You authorize Lumen to make any inquiries and checks necessary to verify your identity, directly or indirectly through third parties, including checking commercial databases or credit reports. We may do credit checks, verify your bank account, and request current copies of identity documentation including your government issued photo identification and a utility bill.
Lumen reserves the right to access various government, private, and credit sources to verify your information. If databases provide a match to the information you used to register, we may not need to request government issued photo identification. We reserve the right to close, suspend, or limit access to your Account and/or the Services in the event we are unable to obtain or verify this information.
- Depositing Funds
You may deposit funds in supported currencies into your Lumen Account in order to (i) exchange currency, or (ii) send it to another person. Note that Customers are not able to hold a significant balance on Lumen at present.
You can deposit money through multiple methods including online bill payment (OBP), Interac, electronic funds transfer (EFT), wire transfer and credit or debit card. Not all deposit methods are available to all customers, check your current account status to be sure. Deposit options are not part of the Services, they are provided by third parties. Lumen does not guarantee the use of any particular deposit method and may change or stop offering a particular deposit method at any time without notice.
Lumen will credit your Account once we have received funds from your bank or credit card issuer.
- Funding with A Bank Account
Funding your Lumen account using pre-authorized direct debit, online bill payment, or Interac to directly debit your bank account, requires you to provide your bank account details, including your bank account number and routing number. If you fund your account using pre-authorized direct debit and provide bank account details, you confirm that these details are correct, that you are authorized to access and use the bank account, that you have sufficient funds to cover the deposit and that you have the authority to initiate an electronic funds transfer to or from your bank account. Your authorization shall remain in force unless canceled by you with sufficient notice per our policy.
- Funding with A Debit or Credit Card
Funding your Lumen account via debit or credit card, requires you to provide your card details, including your card number, name, expiry date, CVV code, and 3D Secure details. If you fund your account via debit or credit card, you confirm that these details are correct, that you are authorized to access and use the card, and that you have the authority to initiate a debit or credit card payment from your card account.
- Funding with A Bank Wire
Funding your Lumen account using a bank wire requires you to initiate and complete the transaction at your bank. You may be required to provide proof of the wire by sending a copy of the wire slip to Customer Support. No funds will be credited to your Lumen account until they are confirmed to be available in our bank account.
- Holding A Balance in your Account
- Lumen does not provide stored value or deposit facilities.
Lumen is not a bank and therefore does not allow customers to hold significant balances at any time. Clients should transfer or otherwise withdraw the majority of deposited funds within 24 hours of their receipt in the Lumen system. Clients may not hold in excess of $10.00 CAD, or equivalent at any time. Lumen, and funds held within our system, is not insured by the CDIC or other deposit insurance scheme. Customers are not entitled to interest or other claims/gains on any nominal balance held in the Lumen system.
- History of Transactions
Account activity and transactions, including current balance and funding/transfer history, inclusive of fees including foreign exchange charges, where applicable, are recorded and available in your transaction history.
You may access this information when logged in or by request to our Customer Support team. Note that transaction history will only be sent to the email associated with your account and only at your request upon confirmation of your identity. All transactions have a reference number AND you should quote this reference when communicating with our Customer Support team.
- Foreign Exchange
Balances may be held in multiple currencies. You are responsible for any volatility or similar risk caused by holding a balance in multiple currencies. Further, you may not use the Lumen system for the purpose of currency arbitrage or speculation.
- Withdrawing/Sending Funds
When you have an available balance, you may use it in the following ways:
- Withdrawing the funds to your own bank account
- Sending a remittance to another Lumen member
- Closing your account and requesting a check
- Requesting a refund to the card you used to deposit
Not all withdrawal/send methods are available to all customers, check your current account status to be sure. Lumen does not guarantee the use of any particular withdrawal method and may change or stop offering a particular withdrawal method at any time without notice.
Fees are charged for all withdrawal and remittance transactions; the exact fee is disclosed on our webpage during submission of your request. Fees include transaction fees, foreign exchange, and other fees.
Your Account is subject to deposit, withdrawal and send money limits. If any request exceeds your current limit, your request will be declined.
- Clearing Times
All transactions have clearing times that depend on the banks that process them and industry timelines. Lumen has no control over processing timelines in the banks that we use to effect payments.
- Foreign Exchange
The Lumen services include foreign exchange, such as:
- Depositing funds in one currency and sending funds to a third party in another currency;
Conversion fees will be charged by Lumen for all foreign exchange transactions. Currency conversions are conducted on all remittance transactions where the recipient currency is different from the depositor currency. Fees for foreign exchange are disclosed at the time of transaction and are agreed to by you, the Customer.
We process currency conversion orders using competitive market rates and execute using the market rate (spot) + a premium based on your available balance at the time of transaction. Lumen is not responsible for changes in currency price that may occur due to market fluctuation, or other factors. Exchange rates are booked at time of transaction and not guaranteed by Lumen.
Lumen reserves the right to refuse or decline any currency conversion request at our discretion.
- Fees and Taxes
Fees for all transactions including deposits, withdrawals, and remittance are disclosed to you throughout the process and must be agreed to before a transaction is initiated. All fees charged by Lumen are reflected in your transaction history and are agreed to by you, the Customer, as part of this agreement.
Lumen’s fees do not include any fees charged by your financial institution and Lumen assumes no responsibility for these fees. Further, Lumen is not responsible for the payment of any taxes or duties owed on funds sent using our system. Users are solely responsible for abiding by tax law in their jurisdiction.
- Closing Your Account
- Closure by Customer
You may close your account at any time by contacting Customer Support at <phone number> or <email>.
Any balance available at time of closure will be available for withdrawal to your bank account or by paper check. You agree that your information will be stored for a minimum of 7 years prior to being deleted in our systems and that all obligations contained in this agreement remain in force after an account is closed. You remain responsible for any pending transactions, fees, or reversed/disputed/chargeback transactions after closure.
- Closure by Lumen
Lumen may, in its sole discretion, suspend or terminate this Customer Agreement and access to our services for any reason and at any time with or without notice to you. Any balance available at time of closure will be available for withdrawal to your bank account or by paper check.
We may close your Account for the reasons below, or others:
- Third party request from law enforcement or other regulatory body
- Suspicion of third-party transactions or criminal activity
- Suspicion you are involved in fraudulent activity, money laundering, terrorism financing, or other illicit activity
- Suspicion that your Lumen account has been breached/accessed/operated by an unauthorized party
In the event of any closure you may request your transaction history and receive it from Lumen Customer Support to the email address on your account. You remain responsible for any pending transactions, fees, or reversed/disputed/chargeback transactions after closure.
Lumen is required to communicate with you on an ongoing basis for issues of account operation, maintenance, and to market additional services to you.
You agree that Lumen may contact you via call/SMS at the phone number provided, via email at the email address provided and via physical mail to your home address. Lumen is not responsible for data, roaming, and other fees charged by your telephone, mobile, or internet service provider(s).